9 hrs ago
NSE IPO Fully Subscribed As Institutional Demand Surges
The National Stock Exchange of India is offering shares to the public for the first time.
Investors showed strong interest on the second day of bidding.
Institutional investors and other large investors placed more bids than the shares reserved for them.
Retail investors had not yet fully used their reserved portion.
Different reports gave slightly different subscription numbers and issue sizes.
The IPO is an offer for sale, meaning existing shareholders are selling their shares.
NSE itself will not receive the money from those sales.
Anchor investors had already provided about ₹6,746 crore.
The shares are expected to be listed on the BSE around September 24 or 25.
The NSE IPO was reported as fully subscribed on its second bidding day, with strong demand from institutional and non-institutional investors.
Reports cited differing figures: ₹22,569 crore with 8.82 crore bids against 8.86 crore shares, or ₹22,561 crore with 1.16 times subscription.
Qualified institutional buyers were reported as subscribing between 1.32 and 1.53 times their allocation, while non-institutional demand ranged from 1.35 to 1.67 times.
Retail participation remained below full subscription, reported at 65% in one account and 72% in another.
The offer-for-sale includes 12.64 crore shares from existing shareholders; allotment is expected on September 22, with BSE listing estimates ranging from September 24 to 25.
- Who
- The National Stock Exchange of India, existing shareholders, qualified institutional buyers, non-institutional investors, retail investors and employees.
- What
- NSE’s IPO was reported as fully subscribed on its second bidding day, driven mainly by institutional and non-institutional demand.
- Where
- The subscription was reported through exchange data, and the shares are expected to list on the BSE.
- When
- The IPO opened on September 17 and is scheduled to close on September 21; reports said it was fully subscribed on Friday’s second bidding day.
- Why
- Institutional and non-institutional investors placed strong bids, while the retail portion remained undersubscribed.
Key facts
- Reported issue size
- ₹22,561 crore to ₹22,569 crore, depending on the report
- Price band
- ₹1,700–1,785 per share
- Offer structure
- Offer for sale of 12.64 crore shares by existing shareholders
- Anchor funds raised
- About ₹6,746 crore on September 16
- Institutional demand
- QIB subscription was reported at 1.32 or 1.53 times; NII subscription at 1.35 or 1.67 times
- Retail demand
- Reported at 65% or 72% of the reserved allocation
- Expected listing
- Reports gave September 24 or September 25 as the expected BSE listing date
Sources
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